[greglepore]

So, a long post...
I have a horse, as does my spouse. Two of our best friends, husband and wife, only 40, also each had a horse. I say had because last Saturday the husband, one of the best guys I've ever known, fell off in a very freak accident while just standing in a river, and the horse apparently stepped on him. He walked over to his wife, said a few words, and dropped over dead of a hemoragic event. She's left with their adopted teenager and a hundred acres to care for.
Why do I tell you this? Because in the horse world, manure happens. Make sure you're committed enough to accept the risk, physical and financial.
Am I going to stop riding? No. It was an odd event, and likely less risky than some other pursuits I engage in, road cycling and formerly, motorcycles.
So, what do you need? Here in Va we get by without a barn. We have an open shelter, basicly a 20 x30 carport that we side with shadecloth. Where you are you'll need at least a big run in.
A compact tractor at minimum, to handle manure and round bales. Will need a loader for sure, and something to drag fields to spread manure. Chain harrow works. Manure spreader only if you've got major acreage, as once you spread the horses are off that pasture for a while. You can drag what they poop but not add to it. Once you have the tractor you'll likely buy other useful stuff, tiller, spreader yada...
Water and electric where the horses are. Fans for the summer, bucket heater in the winter.
A plan to deal with the manure.

A lack of desire to travel.
A pile of vet money. If all goes well, its only about a grand a year for farrier and vet, but one colic can eat up thousands.
Hay here runs about 250 /mth, grain around 100. Hay prices don't come down, hay is water and diesel essentially.
A big pickup to haul the hay and the trailer.
Probably a flat arena or just a round pen, but lots of trail riders get away without that.

Our setup with just the carport, 300 ft of electic and water, and the fencing was 35k, and I already had the truck, trailer and tractor, so that's another 30 to 40 on top.

Fence is easy. Horses respect the rope electric. Heck, we don't even turn ours on much of the time, once they figure what it is they stay away. And if they're so scared that they'll run thru it, it doesn't matter if its on. They'd jump a board fence under those circumstances. We did wood posts every 20 ft on the pasture out front, but use metal t's with safety caps elsewhere.

Respectfully, its not a hobby, its a lifestyle. You might find that you like it, I did, but its not for everyone. And once you're in, you're in. You're not just going to sell them on Marketplace and reconfigure the land.